Reuters: Hot Stocks: Australia shares seen rising at open, miners may cap gains

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Australia shares seen rising at open, miners may cap gains Mar 14th 2013, 22:49 SYDNEY, March 15 | Thu Mar 14, 2013 6:49pm EDT SYDNEY, March 15 (Reuters) - Australian shares should find early support on Friday after Wall Street extended its run of record highs, but the market could be capped as weak metal prices keep the pressure on mining stocks. * Local share price index futures rose 0.4 percent to 5,048, a 15.8-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 1.2 percent on Thursday, the biggest percentage loss in eight days. * New Zealand's benchmark NZX 50 index rose 0.2 percent, or 10.9 points to 4,392. * The Dow Jones industrial average extended its winning streak to 10 days on Thursday, a string of gains last seen in late 1996, ending at a record high as investors were encouraged by data showing the labour market's recovery was improving. * Spot iron ore prices and Shanghai rebar futures fell to their lowest levels for the year, pressured by weak steel demand in top consumer China. * Gold edged up as the rally in U.S. equities and data showing an improving U.S. labor market recovery dented safe-haven buying. * U.S. oil futures rose to the highest settlement price in two weeks as data showed an improving labour market in the world's largest oil consumer. ----------------------MARKET SNAPSHOT @ 2218 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1563.23 0.56% 8.710 USD/JPY 96.08 -0.01% -0.010 10-YR US TSY YLD 2.0366 -- 0.000 SPOT GOLD 1589.75 0.00% -0.050 US CRUDE 93.14 0.12% 0.110 DOW JONES 14539.14 0.58% 83.86 ASIA ADRS 137.67 0.29% 0.40 ------------------------------------------------------------- * Wall St ends up for 10th day, S&P nears record high * Oil futures settle at two-week high on strong data * Gold rise limited by Wall St rally, economic hope * Copper pressured by strong dollar; nickel jumps For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Thuy Ong; Editing by John Mair) Link this Share this Digg this Email Reprints

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